Marine Engine Market to rise at 4.5% CAGR and reach remarkable value by 2023, according latest Global Marine Engine Market Analysis Report published by Market Research Future. Marine Engine Market by Power 1,000 HP To 20,000 HP), Application (Commercial Vessels, Offshore Support Vessels), Fuel, Region.
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Marine Engine Market to rise at 4.5% CAGR and reach remarkable value by 2023, according latest Global Marine Engine Market Analysis Report published by Market Research Future. Marine engines are machines that are utilized to provide power to marine vessels like commercial vessels, offshore support vessels and other vessels. Global Marine Engine Industry Report analyzes Market for Marine Engine by Power (Up to 1,000 HP, 1,001 HP to 5,000 HP, 5,001 HP to 10,000 HP, 10,001 HP to 20,000 HP, Above 20,000 HP), Application (Commercial Vessels, Offshore Support Vessels), Fuel, Region with forecast to 2023.
Major Marine Engine Companies covered in the market report include Caterpillar Inc. (U.S.), GE Transportation (U.S.), Man Diesel & Turbo Se (Germany), Cummins Inc. (U.S.), Rolls-Royce Power Systems AG (Germany), Brunswick Corporation (U.S.), Wärtsilä Corp (Finland), AB Volvo (Sweden), Mitsubishi Heavy Industries, Ltd. (Japan), Yanmar Co., Ltd. (Japan), John Deere (U.S.), Scania AB (Sweden), Dresser-Rand Group, Inc. (U.S.), Daihatsu Diesel MFG. Co. Ltd. (Japan), and Deutz AG (Germany).
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Global Market Highlights:
Market Research Future (MRFR)’s assessment reveals that the global marine engine market is set to expand at a CAGR of 4.5% during the forecast period 2017 to 2023. The growth of the shipbuilding activities across the world is expected to dictate the growth trajectory of the global market. Factors such as increase in shipbuilding activities, high intake of cruise or luxury ships for travel, increasing number of yachts due to increase in disposable income, increasing investment in the defense sector due to high budget allocation, and rising demand for bulk carriers & gas carriers for commercial purpose can take the global marine engine market forward.
The market is forecast to expand at a healthy pace through the review period. The technological developments and rising sea-borne activities are presumed to accelerate revenue creation for the market participants. Furthermore, the growth strategies such as mergers & acquisitions, collaborations, partnerships, etc. are further expected to catalyze the growth of the marine engine market in the upcoming years.
Marine Engine Market Segments:
By power, the global marine engine market is segmented into Up to 1,000 HP, 1,001 HP to 5,000 HP, 5,001 HP to 10,000 HP, 10,001 HP to 20,000 HP and Above 20,000 HP.
By application, the marine engine market has been segmented into commercial vessels, offshore support vessels, and other vessels.
By fuel, the global marine engine market has been segmented into heavy fuel oil, intermediate fuel oil, marine diesel oil, marine gas oil, and other fuels.
Regional Analysis:
Region-specific analysis of the global marine engine market, as discussed by MRFR in their detailed report, includes Asia Pacific (APAC), Europe, North America, and Rest-of-the-World (RoW). The analysis aims at unveiling several growth pockets for a better understanding of the market and its prospects.
The APAC market is at the helm of the global market and is expected to remain so during the forecast period. Reasons that are favoring the rise of the regional market depends mostly on increasing leisure marine travelers, rise in the global seaborne transport industry, implementation of advanced technologies, efficient engines, steady economy & some of the emerging economies, and growing per capita incomes. The region can also expect high growth rate during the forecast period. Countries such as South Korea, Japan, China, Singapore, Indonesia and Malaysia are investing much in the market which is providing push to the regional market.
Europe’s market is the second largest and the region is benefitting from the presence of countries such as Denmark, Croatia, France, Finland, Greece, Germany, and Italy owing to their extensive shipbuilding capabilities.
North America’s growth was moderate in 2016 and it is going to maintain its present scenario in the coming years as well. The region has the U.S. as the leading country which commands control over almost 80% of the total market size.
Countries such as Croatia, Denmark, Finland, France, Germany, Greece and Italy are the prominent shipbuilding nations in Europe. The growing maritime activities and tourism in the European region have created productive market for shipping industries and subsequently marine engine manufactures. North America witnessed a stagnant growth in 2016 and is anticipated to maintain the growth over the forecast period. U.S. held for the largest share in North America with more than 80% of the market share in 2016 and is expected to maintain its dominance over the forecast period.
TABLE OF CONTENTS:
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Definition
2.2.2 Research Objective
2.2.3 Assumptions
2.2.4 Limitations
2.3 Research Process
2.3.1 Primary Research
2.3.2 Secondary Research
2.4 Market Size Estimation
2.5 Forecast Model
3 Market Landscape
3.1 Porter’s Five Forces Analysis
3.1.1 Threat Of New Entrants
3.1.2 Bargaining Power Of Buyers
3.1.3 Bargaining Power Of Suppliers
3.1.4 Threat Of Substitutes
3.1.5 Segment Rivalry
3.2 Value Chain/Supply Chain Analysis
4 Market Dynamics
4.1 Introduction
4.2 Market Drivers
4.3 Market Restraints
4.4 Market Opportunities
4.5 Market Trends
5 Global Marine Engine Market, By Power
5.1 Introduction
5.2 Up To 1,000 HP
5.2.1 Market Estimates & Forecast, 2017-2023
5.2.2 Market Estimates & Forecast By Region, 2017-2023
5.3 1,001 HP To 5,000 HP
5.3.1 Market Estimates & Forecast, 2017-2023
5.3.2 Market Estimates & Forecast By Region, 2017-2023
5.4 5,001 HP To 10,000 HP
5.4.1 Market Estimates & Forecast, 2017-2023
5.4.2 Market Estimates & Forecast By Region, 2017-2023
5.5 10,001 HP To 20,000 HP
5.5.1 Market Estimates & Forecast, 2017-2023
5.5.2 Market Estimates & Forecast By Region, 2017-2023
5.6 Above 20,000 HP
5.6.1 Market Estimates & Forecast, 2017-2023
5.6.2 Market Estimates & Forecast By Region, 2017-2023
Continued…
LIST OF TABLES:
Table 1 Global Marine Engine Market: By Region, 2017-2023
Table 2 North America Marine Engine Market: By Country, 2017-2023
Table 3 Europe Marine Engine Market: By Country, 2017-2023
Table 4 Asia Pacific Marine Engine Market: By Country, 2017-2023
Table 5 RoW Marine Engine Market: By Country, 2017-2023
Continued…
LIST OF FIGURES:
FIGURE 1 RESEARCH PROCESS OF MRFR
FIGURE 2 TOP DOWN & BOTTOM UP APPROACH
FIGURE 3 Market Dynamics
FIGURE 4 Impact Analysis: Market Drivers
FIGURE 5 Impact Analysis: Market Restraints
FIGURE 6 Porter’s Five Forces Analysis
FIGURE 7 Value Chain Analysis
Continued…
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